Blog

We are currently beta testing so please don't judge us. However, all user and host data are genuine.

Has Coworking been impacted?

The pattern of coworking has changed over the years. There was a different approach to
coworking five years ago and now. A different approach has led to an evolution of the
coworking world. There might be variation in trends over the years and that might be the
possible reason for the change in the pattern of coworking. Following cases force us to
make us believe the possible reason for the same.

Millennials continue to stream into the workforce at a rapid pace. What does this mean for
our workforce? Gone are the days where work is simply a pay check, as this new generation
of workers require their work to be an extension of their lifestyle. In keeping with this
concept, many of the world’s millennials have prioritized work with built-in flexibility. From
freelancers to start-up employees, this translates to an increase of workers untethered from
a physical office who are free to roam the world, otherwise known as ‘digital nomads.’
While these workers aren’t necessarily required to work out of a corporate office, they still
need places where they can reliably get their work done.

Coworking has wholeheartedly embraced this collective of nomadic workers, individuals
whose main requirement in a work environment is a high-speed internet connection and a
like-minded community of freethinkers. The tandem rise of digital nomads and coworking
spaces is no coincidence, as these parallel movements serve as perfect complements to one
another.

There is a vast gap between the corporate world and coworking over the years. Though
both offer the same concept but a different world to work in. The coworking world has set
its own trend in the corporate industry. The coworking giants like WeWork and other big
shots are generating truly impressive amounts of capital. WeWork recently raised $760
million in their Series G round of funding which brings their current valuation to $20 Billion
giving rise to a subset of coworking which borrows strongly from the corporate world.

Technology benefits everyone from the members of a space to the venue managers and
operators that run the space. Coworking spaces are using technology to help them manage
the day-to-day operations of their space, automating tasks and freeing them up to be more
present and focused on providing their members with a wonderful experience. Coworking
spaces now have developed easy ways for people to become a member of a particular space
and enter a whole new world. Various applications have been created for the ease of the
customers and the work to happen at a lot faster speed. Technical implications have also
helped the coworking world evolve and can be considered as one of the reasons of impact.
Perhaps more importantly, using software to manage a coworking space gathers valuable,
contextual data about how members are using the space. Managers can then use this data
to make educated business decisions that impact the future of their business in a big way.
Now, they know exactly how often their meeting rooms are getting booked, which shared
areas of their space are the most popular, which types of memberships contribute most to
their monthly recurring revenue. Data drives decision-making. And that’s only the
beginning.